The JP Morgan Healthcare Conference gave drug giant Celgene
Let's start with last year. Thanks to the continued early-stage launch of multiple-myeloma drug Revlimid, Celgene expects 2007 revenue to be up around 56%, to $1.4 billion, and earnings per share of "approximately" $1.05.
In 2008 -- owing to steeper competition from Motley Fool Rule Breakers pick Millennium Pharmaceuticals
2008 is going to be a bit of a transition year for Celgene. It will be digesting its $2.9 billion buyout of Pharmion
Unless new data comes out showing that Revlimid is the clearly superior choice in treating multiple myeloma (as well as some of the other indications for which it and rival Millennium's Velcade are used), 2009 is going to be a much tougher year for comparison purposes, as Revlimid will by then be a more mature product in many countries outside the United States.
Fortunately, Celgene has multiple label-expanding studies under way for Revlimid. Much like such studies boosted the good fortunes of fellow oncology drugmaker ImClone Systems
At the JP Morgan conference yesterday, Celgene's CEO said that his goal is for Celgene to become a major pharmaceutical company. Hopefully he was referring to growing Celgene into the size of a Schering-Plough
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